CSPAN Rep Paul Kanjorski Reviews the Bailout Situation

http://a1b5jj.blogspot.com/

Kanjorski has since tried to make the same point several more times, and Kashkari as well, but no one is paying attention, see the following:

http://a1b5jj.blogspot.com/2009/03/confusion-in-ranks-tarp-prevented-total.html

NOTE - Kanjorski's recollection of the dates may be inaccurate. The NYT shows the bank run as happening on the 17th 18th not the 11th. Some have alleged a 911 connection making the bank run an attack on the nation, but the failure of Lehman seems to have triggered widespread panic which accounts for the bank run. Limbaugh asserted a George Soros conspiracy theory which is pretty laughable.

See this article:

http://www.nytimes.com/2008/10/02/business/02crisis.html?_r=2

also

http://a1b5jj.blogspot.com/2009/03/911-connection-to-september-2008-bank.html

Wow, the nation's #1 bloviating traitorius demagogue, Rush Limbaugh played this very clip on his 2/10/09 show and has a direct link to it on his website!!!! No wonder it got 30,000 hits in one day!

Also, Olbermann used this clip on his 02/10/09 show, maybe after hearing it on Limbaugh's show. Olbermann's guest commentator was skeptical about Kanjorski's accuracy on the 550 billion number.

Now quite a few news sites have links to this clip.

At least, as far as I can tell the clip I posted is the only one on Youtube (though it has been cloned a few times via LiveLeak), and Olbermann featured a Youtube version which very likely is the same one I posted! WhoooHoooo!

in response to the usual CSPAN hysterical caller, Rep Kanjorski gives his perspective on the bailout, it is especially interesting to hear how the money market drawdown threatened to collapse the entire world economy in 24 hours back in the fall of 2008, which was the motivation for the first 350 billion.

Category:

News & Politics

Tags:

• bailout
• cspan
• meltdown
• economic
• collapse
• kanjorski
• olbermann
• limbaugh
• TARP
• Bush
• Great
• Depression

[siesta000000]

I was one of the people who contributed to the run on the money markets. There are no conspiracy theories. When the Reserve Fund "broke the buck," I shifted all my money market investments into savings and checking accounts at banks. I did not want to be caught with worthless paper in the commercial markets.

I'm far from being a part of a conspiracy. Don't believe everything you hear from conspiracy theories.

A run on the money markets was completely natural due to the circumstance.

[BlueEagle8]

Didn't matter. Obama and McCain are two heads of the same snake.

[thadgiles513]

Your vid is popular on Serbia

[itostrong923v]

Your video is a favorite on Mozambique

[MrGiggity890]

@siesta000000 safe in checking and savings accounts? your money is not safe unless its in your hands...also, that paper you carry is only worth something because people still accept it as such....when the US bond market goes to shit, you won't want to be holding dollars

[MrGiggity890]

this guy is full of shit...yes, the "whole economy would collapse".....the US would be much better off by now if the FED was put out of business....let these fraudulent banks fail....they only create debt out of thin air which they call money, its all a fraud

[MrGiggity890]

you cant win in the bankers' game...you cannot stimulate the economy using Keyensian economics...handing out "money" does not stimulate the economy because prices would rise in the long-run. only production can get an economy out of the rut it's in....the bankers' game is that if the money supply decreases (paying down debt), there is less available to go around...the game is that they have to continually increase the debt so that enough "money" can keep floating around in this fraud economy

[patmilsa]

Let the political and economic systems fail - they are junk. The sooner everyone realizes that the perverted versions of democracy and capitalism that we have now are garbage the better it'll be for the everyone.

[Khomradeigor]

Jesus fucking christ.

[yaahme]

I got an idea, allow the so called too bigs to actually FAIL - that is called a free market frickin' jackasses which is what we are supposed to have here in America - NOT Fascism!

[ctp4]

The ones who threw you in the middle of the Atlantic without a lifeboat were: 1. yourselves (for pushing home ownership, even to those who had no means of paying it, via Fannie and Freddie and 2. bankers (who made a killing off the investors they duped and then again off taxpayer when you deemed they were TBTF. No kidding you're no geniuses. I'll bet the caller would actually make better decisions than you and your crony capitalism.